NaviCare Systems was founded in 1994 with the vision of leveraging information technology to improve communication and streamline operations in key surgical departments within hospitals. NaviCare’s end-to-end solution provides clients with a robust, highly scalable infrastructure that can be deployed in a single department, throughout a hospital or across an extended health enterprise. The system provides a wealth of information in real-time to all participants in a care management setting (doctors, support staff, management, patients, family members). It helps to assure that the logistics of care delivery are managed efficiently and effectively within the highly volatile environment of a modern hospital. This improves clinical quality, helps reduce avoidable medical errors and allows a hospital to tightly manage its costs.

Having witnessed significant early success selling into over 20 hospital systems, NaviCare looked toward additional outside capital investment to accelerate the growth of the business. Having illustrated proven market acceptance and demand, the new investment funds were targeted for further R&D, sales and marketing initiatives, as well as for recruiting additional members to NaviCare’s management team. In focusing senior management’s primary attention on business operations, the Company sought an outside advisor to lead the capital raise process. NaviCare’s board and the executive management team selected TripleTree as their exclusive financial advisor due to TripleTree’s focused expertise in healthcare, IT and deep industry understanding of how NaviCare’s proprietary technology solves critical business problems in the hospital market.

TripleTree succeeded in assisting NaviCare raise growth capital from strategic partner Hill-Rom, operating company of Hillenbrand Industries (NYSE: HB). TripleTree managed a strategic fund raising process to leverage potential partners’ existing infrastructure, sales and marketing capabilities and industry knowledge. Despite a difficult IT market, TripleTree managed to generate significant interest among a broad array of potential healthcare technology, services and product companies. NaviCare management and TripleTree chose Hill-Rom as the sole equity investor, a provider of integrated solutions to health care facilities, including such products and services as facilities assessments, patient beds, stretchers, therapy surfaces and communication systems. TripleTree educated Hill-Rom on the strategic benefits and potential to leverage NaviCare’s software solutions across its vast medical products network. TripleTree will continue to assist NaviCare in assessing future strategic initiatives and growth alternatives.

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